Answer to Question #224741 in Economics for Pabi

Question

In economics, "the long-run" is referred to as

A. a period in which the amounts of capital are variable.

B. a period in which the amounts of all factors of production can be changed.

C. a period in which the amounts of labour are fixed.

D. a period in which the amounts of all factors of production are fixed.

Answer 1

The correct answer is (B).

Answer:

B. a period in which the amounts of all factors of production can be changed.